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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > General Automotive Repair Loan | ||||
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Business Loans for Pennsauken Businesses
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SBA Loans for General Automotive RepairLooking for SBA loans for general automotive repair? An SBA loan may be just what you've been looking for. This $50,000 general automotive repair loan was issued by a Virginia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pennsauken, New Jersey was able to borrow $50,000 from Capital One. The SBA made the loan possible by guaranteeing $25,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CAPITAL ONE The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/22/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital One and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Find an SBA Lender in Mclean, Virginia Browse All Business Loan Sources for Virginia
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